Measures were announced Jan 18
The spikes in HIBOR may have been related to a speculative squeeze on yuan shorts engineered by the PBOC. They took it a step further by announcing that offshore branches of onshore banks would be required to maintain the same required reserve ratios (RRR).
The change adds an interesting kink in CNH trading today. You would think the market would be prepared but you never know.
USD/CNH closed Friday at 6.6136.